Assume that a stock's price over the next two periods is as shown below.

The initial value of the stock is $100. The probability of an up move in any given period is 40% and the probability of a down move in any given period is 60%. Using the binomial model, the probability that the stock's price will be $1020 at the end of two periods is closest to:

A.16%.

B.24%.

C.48%.